The first United States Liberty coins in the historic Lady Liberty gold coins series were minted before the Civil War in 1838. The Liberty gold coins were inspired by Christian Gobrecht's design from a portrait of Venus.

The discovery of gold in California in 1848 and the ensuing Gold Rush turned out to be a godsend to coin collectors. Due to the overflow of gold that began pouring into Philadelphia, Congress authorized the United States Mint to create a $20 gold coin on March 3, 1849.

The most recognizable and highly esteemed coin of its day, the $20 Liberty, also referred to as a $20 Coronet, remained in production until 1907 when the United States Mint began releasing the $20 Saint-Gaudens.

$20 Liberty coins are commonly called Double Eagles and served as money in this country until 1933 when they were called in by President Franklin Roosevelt. The Liberty series features $20 coins, dubbed Double Eagles, $10 coins, called Eagles, $5 coins Half Eagles, and the $2-1/2 coins Quarter Eagles.

The $20 Liberty Head gold coin and its successor, the St. Gaudens, are the largest coins produced (1850-1933) by the U.S. Mint for general coinage. The coin contains 90% pure gold, which equates to something between 20 carat and 22 carat. The coin seems to be valued for not only its millesimal fineness (carat value), but also its designs and age.

Because of its convenient size and denomination, the $10 Liberty was instantly popular and became one of the most circulated coins in U.S. history. They were hoarded during the Civil War, when it took $25 in paper "greenbacks" to buy just one $10 Liberty.

Congress authorized the U.S. Mint to coin the $5 Liberty gold piece, or Half Eagle, on April 2, 1792. The first design of the $5 gold piece was the first gold coin minted by the United States government, and is also the only coin in U.S. history to have been struck at all seven U.S. Mints that were open during its circulation.

In 1848, about 230 ounces of gold were sent to Secretary of War Macy by Colonel R.B. Mason, military governor of California. The $2.50 Liberty coins that were produced from this gold have a distinguishing mark of "CAL." on the reverse. This is the longest spanning design without a major change or alteration (very minor changes were made to the design on the reverse) in American coinage history.

A lot of beginners to coin collecting may assume that the older a coin is, the more it is worth. In truth, the age of the coin really has no direct effect on its value. Rather than the age of a coin, it is its relative rarity, condition, and level of demand that determines its value. The true scarcity of the $20 Liberty Gold coins tends to drive up prices at a faster rate than bullion. Plus, since the IRS classifies them as "collectible" coins, they carry additional privacy and tax advantages.